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SIA sponsors cyber benchmarking study
Rick Rector, PUBLISHER
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Security Systems News' Class of 2017 "20
under 40" winner Ryan Fritts, CISO, ADT,
said, "We are using AI in our access and enti-
tlement management to analyze the behaviors
of end-users and determine whether or not
their behaviors are risky."
Over the next two years, studied fi rms indi-
cated they plan to greatly expand the use of
the following technology solutions:
• Behavioral analytics (+1,735 percent)
• Smart grid technologies (+831 percent)
• Deception technology (+684 percent)
• Hardware security and resilience (+114
percent)
The study also found that as corporate
cybersecurity systems mature, the probability
of costly cyberattacks declines. Cybersecurity
beginners have a 21.1-percent probability of
cyberattacks generating over $1 million in
losses versus 16.1 percent for intermediates
and 15.6 percent for leaders.
A
new benchmarking study of the cyber-
security practices and initiatives of
global organizations provides insight
into the cyber landscape today and moving
forward over the next few years. The study,
called The Cybersecurity Imperitive, was pro-
duced in partnership with
ESI ThoughtLab and WSJ
Pro Cybersecurity and is
sponsored by the Secu-
rity Industry Association
(SIA) and several other
partners.
"As validated by SIA's
just-released 2019 Secu-
rity Megatrends—high-
lighting the top factors influencing both
short- and long-term change in the global
security industry—security companies see
cybersecurity as the dominant trend shaping
the industry," SIA CEO Don Erickson said in
an email announcing the study. "Having these
clear benchmarks around cybersecurity not
only facilitates the advancement of cybersecu-
rity within your own organizations, but it also
allows fi rms like yours to deliver appropriate
solutions to your customers."
One key fi nding in the study is that digi-
tal transformation is exposing companies
to higher and more costly cyber risks. For
example, those whose cybersecurity practices
do not keep pace with their digital transfor-
mation initiatives are more likely to see $1
million or more in losses from cyberattacks.
The research showed that cyber risks rise
dramatically as companies embrace new
technologies, adopt open platforms and tap
ecosystems of partners and suppliers.
"Companies need to make sure that their
cybersecurity programs keep pace with their
digital transformation effort," Lou Celi, CEO
of ESI ThoughtLab and director of the study,
said in the announcement. "Cybersecurity
should not be an afterthought. It needs to be
integrated into the fabric of an organization's
growth strategy."
According to the study, there will be an
increase in cyber-threat vectors by 2020,
including:
• Attacks through partners, customers
and vendors (247 percent growth)
• Supply chains (+146 percent)
• Denial of service (+144 percent)
• Apps (+85 percent)
• Embedded systems (84 percent)
Surveyed companies see high risks from
external threat actors, such as unsophisti-
cated hackers (cited by 59 percent of fi rms),
cybercriminals (57 percent) and social engi-
neers (44 percent), but the greatest threat
lies with untrained general staff (87 percent).
Another 57 percent of fi rms see data sharing
with partners and vendors as their main IT
vulnerability. Nonetheless, only 17 percent
of companies have made signifi cant progress
in training staff and partners on cybersecurity
awareness.
The study also cites the leading cyber-
threat vectors in 2018, which are:
• Malware (81 percent)
• Phishing (64 percent)
• Ransomware (63 percent)
• Viruses (62 percent)
• Attacks from Apps (62 percent)
Another key finding is companies are
boosting their cybersecurity investments. To
cope with rising cyber risks, surveyed compa-
nies are increasing their cybersecurity invest-
ment by 7 percent this year and 14 percent
next year. The biggest upsurge will come from
platform companies, which are hiking their
spending 59 percent this year and 64 percent
next year. On average, companies with rev-
enue between $250 million and $1 billion
will spend $2.9 million next year; $1-5 billion
($5.7 million); $5-20 billion ($10.7 million);
and $20 billion+ ($16.8 million).
According to the study, companies now use
a variety of technologies to improve cyberse-
curity, such as multi-factor authentication (90
percent), blockchain (68 percent), Internet
of Things (62 percent) and AI (44 percent).
Paul Ragusa
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EDITORIAL 11
SECURITY SYSTEMS NEWS NOVEMBER 2018 www.securitysystemsnews.com